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EURCV Stablecoin By SG-FORGE Goes Live On XRPL
SG-Forge's Euro-backed stablecoin expands to the XRP Ledger as the European demand for stablecoin issuance increases across institutions.
Euro-backed stablecoins are continuing to march forward, led primarily by bank projects for institutional use-cases (Dimitri Lakymuk / Unsplash)
EURCV stablecoin is now live on the XRP Ledger.
The stablecoin issued by Societe Generale Group subsidiary SG-Forge has officially launched on XRPL, joining existing networks Ethereum and Solana. As one of the earliest bank-led products, EUR CoinVertable is strengthening European stablecoin adoption.
SG-Forge CEO Jean-Marc Stenger expressed:
“The successful launch of EUR CoinVertible on the XRP Ledger is a new step, reinforcing our commitment to offering next-generation, compliant crypto-assets that promote transparency, security, and scalability. We look forward to further innovation and expanding the reach of our portfolio of digital assets solutions”
The latest addition to the supply is approximately 10M on XRPL (according to XRPL LiveNet explorer). Overall, the current EURCV market cap sits at around $77M across all three blockchain networks combined (according to CoinGecko).
Also, this builds on last year's update of Deutsche Börse Group using USDCV and EURCV for clearing. Recently, SP Global released a stablecoin report on the state of non-USD stablecoins, which leans heavily into predicting the rise of the Euro currency onchain.
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